At McElroy & Associates, We Understand That Bad Things Can Happen To Good People
Get A Fresh Start Through Bankruptcy
When Congress drafted the nation’s bankruptcy code, lawmakers created a list of exemptions that allow individuals to protect certain assets when they seek debt relief. The bankruptcy code also allows state lawmakers to create their own exemptions. In some states,...
In Tennessee and other southern states, many individuals have diabetes or other chronic illnesses, with treatment costs contributing to high medical debt. A lack of adequate assistance from financial programs such as Medicaid has exacerbated the issue. The disease and...
Thousands of Tennessee residents struggle to varying degrees with debt, and you may find yourself in that position: Worried about paying your bills, juggling payments from month to month, struggling to make ends meet and resorting to more credit to stay above water....
More than 200,000 borrowers in Tennessee and around the country could soon see their student loans discharged. On March 29, the U.S. Court of Appeals for the Ninth Circuit paved the way for about $6 billion in student loans to be forgiven when it denied a request from...
Memphis residents can consider filing for Chapter 7 bankruptcy when their debts become overwhelming. This type of bankruptcy wipes out several forms of debt, including medical bills and credit card debt. People choose this type of bankruptcy because it offers a fresh...
Approximately 5.17 people out of 1,000 files for bankruptcy in Tennessee, double the national average. Many of these individuals file for Chapter 13 bankruptcy because it lets them keep their assets while getting caught up on payments. While most people make timely...
According to studies, approximately 68 million Americans deal with bad or poor credit. For Tennessee residents with poor credit, buying a home, purchasing a vehicle, and various other tasks become impossible. Fortunately, credit repair options allow those with poor...
Tennessee consumers who are struggling with unmanageable financial situations often delay filing for bankruptcy or do not seek debt relief at all because they are worried about their property being sold to pay their creditors, and the assets they usually fear losing...
Bankruptcy is a legal process designed to help residents of Tennessee and Arkansas regain financial control by eliminating all or part of their dischargeable debt. Filing bankruptcy has some immediate short-term impacts and long-term effects as well. It’s a...
Credit card debt is growing at an alarming rate in Tennessee and around the country. In the final quarter of 2022, the amount of money Americans owe to credit card companies increased by more than $60 billion to $986 billion. In January 2023, that figure rose by a...